BOSTON - ITG Ventures acquired a minority interest in The LongView Group Inc., Boston, a maker of straight through processing trading technology.
LongView produces LandMark, an electronic trade order management system that simplifies transactions using straight through processing. Straight through processing permits the electronic flow of information between a firm's front and back offices and externally to broker/dealers, custodians and central depositories.
Investment Technology Group Inc., Boston, parent of ITG Ventures, is a provider of technology-based equity trading services, such as the POSIT stock crossing system.
"We believe that alliances with technology-driven firms are essential to expanding the scope of our business opportunities," said Scott Mason, president and chief executive officer of ITG.
First Call, Bloomberg make deal
BOSTON - First Call Corp. will distribute its proprietary data via the Bloomberg global on-line network by the end of this year.
First Call will distribute its FIRST CALL Notes, FIRST CALL Research Direct, FIRST CALL RTEE (real-time earnings estimates), FIRST CALL Recommendations, FIRST CALL BondCALL Notes and FIRST CALL BondCALL Reports over the network.
Bloomberg's more than 77,000 installed terminals are used by more than 170,000 financial professionals globally, according to First Call officials.
Bloomberg covers key global securities markets - including equities, money markets, currencies, municipal, corporate bonds, commodities, mortgage-backed securities, derivative products and governments.
Bloomberg also offers analytical capabilities to evaluate complex scenarios.
For further information, contact Faye Fardshisheh at First Call at (617) 856-1158.
On-line stock service launched
SAN MATEO, Calif. - StockEdge Online, a real-time stock service delivered over the Internet, has been launched by Data Broadcasting Corp.
StockEdge Online is updated without user intervention and is a Microsoft Windows-based product.
"With our active push technology, we believe that the Internet is now an appropriate medium for transmitting time-sensitive data," said Mark Imperiale, DBC's president and chief operating officer.
StockEdge Online's cost begins at $79 a month.
South Africa data available
NEW YORK - INET-BRIDGE, a new joint venture, will provide Bridge Information Systems clients an additional source of information on South Africa.
The joint venture also will offer INET clients BridgeStation. BridgeStation covers global market data and news on agribusiness, equities, metals, derivatives, energy, fixed income and foreign exchange. It also offers trading and analytical tools.
INET-BRIDGE is a a joint venture of Bridge Information Systems, New York, and INET, Johannesburg, South Africa, a provider of financial data with more than 2,500 users in South Africa and England.
Bridge, New York, is a global provider of information on equities, fixed income, foreign exchange, derivatives and commodities.
System updates to cost $80 billion
PALO ALTO, Calif. - Banks worldwide will spend more than $80 billion to modify their information system to correct software problems in connection with the year 2000, according to a new study.
The study, called "Banking's Turn of the Century Challenges: A Framework for Risk Reduction," is from Killen & Associates, a market research and consulting firm.
The study said most of the $80 billion will be spent in the next two years.
For more information, contact Bob Goodwin at Killen & Associates at (415) 617-6130.
Canada gets AllocationMaster
SAN DIEGO, Calif. - Guardian-Frontier Canada Inc., Toronto, will begin offering AllocationMaster to brokers and financial planners throughout Canada beginning in September.
AllocationMaster is an asset allocation software program used as a value-added service and marketing tool by retail brokers and independent financial planners.
The software enables investment professionals to analyze and evaluate asset allocation decisions using cutting-edge features like advanced portfolio optimization, financial projects, implementation planning and client profiling.
The Canadian version of AllocationMaster will use Canadian dollars, and tax codes and include all Canadian indexes as well as foreign indexes.
AllocationMaster is made by Frontier Analytics Inc., San Diego.
For further information, contact Randal J. Moore at Frontier Analytics at (619) 552-1268.
Infinity buys rights to program
MOUNTAIN VIEW, Calif. - Infinity Financial Technology Inc. acquired rights to Limit Manager software.
Limit Manager allows companies to manage risk by placing limits on various parameters, such as exposure by counterparties and countries, value-at-risk by traders or notional amounts by currencies and instruments.
The acquisition is a step forward in Infinity's drive to be the premier supplier of integrated trading and risk management, said Till Guldimann, vice chairman of Infinity Financial Technology.
Diagram Inc., San Mateo, a long-time business partner of Infinity Financial, developed Limit Manager.
For further information, contact Michael Laven at Infinity Technology at (415) 940-6100.
Dow Jones to carry KENNYBASE
NEW YORK - Dow Jones Markets, New York, announced it will carry J.J. Kenny's KENNYBASE database, which is owned by Standard & Poor's Co..
KENNYBASE contains comprehensive descriptions of more than 1.5 million municipal bonds and thousands of corporate issues.
Its KENNYQUOTE daily bid-side pricing feature allows traders and investors to accurately gauge fair market value on a wide range of tax-exempt securities issued by states, cities and agencies across the United States.
For further information, contact Brian Ek at Dow Jones Markets at (212) 416-3782.
